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Investing

Union, Industry Dodge Refinery Strike (RDS-A, XOM, CVX, VLO, MPC, TSO)

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By Paul Ausick Published

The United Steelworkers Union has reached a tentative agreement with US refiners that will avoid a strike that could have begun at 12:01 a.m. this morning. Royal Dutch Shell plc (NYSE: RDS-A) led negotiations on behalf of industry players including among others Exxon Mobil Corp. (NYSE: XOM), Chevron Corp. (NYSE: CVX), Valero Energy Corp. (NYSE: VLO), Marathon Petroleum Corp. (NYSE: MPC), and Tesoro Corp. (NYSE: TSO).

Details of the settlement will not be revealed until union members vote on the contract, which could take several weeks. The contract runs for three years.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.

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